---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-214325"
form_type: "8-K"
ticker: "PMT"
cik: "0001464423"
company_name: "PennyMac Mortgage Investment Trust"
filed_at: "2023-08-16T23:59:59+00:00"
generated_at: "2026-06-11T08:19:18.295102+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# PennyMac Mortgage enters $150M Freddie Mac servicing advance receivables financing

## Summary
- Subsidiaries entered structured finance transaction via Series 2023-VF1 Variable Funding Note.
- Initial max principal $150,000,000, fully committed, maturing August 9, 2025.
- Note bears interest at spread above 1-month SOFR, payable monthly.
- Proceeds used to finance Freddie Mac servicing advance receivables.
- PMC sells advance receivables to depositor and ultimately to issuer trust.

## SEC filing metadata
- accession: 0001193125-23-214325
- form_type: 8-K
- ticker: PMT
- cik: 0001464423
- company_name: PennyMac Mortgage Investment Trust
- filed_at: 2023-08-16T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1464423/000119312523214325/0001193125-23-214325-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1464423/000119312523214325/d515538d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-214325
- JSON: https://secwatch.observer/filing/0001193125-23-214325.json
- Plain text: https://secwatch.observer/filing/0001193125-23-214325.txt

## Key facts
- Debt Financings
  PennyMac Mortgage Investment Trust incurred credit facility of $150,000,000 with Barclays Bank PLC at a spread above the one-month term Secured Overnight Financing Rate maturing August 9, 2025.
  - Instrument: credit facility
  - Principal: $150,000,000
  - Counterparty: Barclays Bank PLC
  - Rate: a spread above the one-month term Secured Overnight Financing Rate
  - Maturity: August 9, 2025
  - Event: incurrence
  source text: The initial maximum principal amount of the Series 2023-VF1 Note is $150,000,000, which is fully committed. During the revolving term of the Series 2023-VF1 Note, PMC is required to repay the purchasers monthly for accrued interest (at a rate reflective of the current market based on a spread above the one-month term Secured Overnight Financing Rate).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1464423/000119312523214325/0001193125-23-214325-index.htm
- Material Agreements
  PennyMac Mortgage Investment Trust entered into Indenture with Citibank, N.A. and Barclays Bank PLC valued at $150,000,000 (effective 2023-08-10).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Citibank, N.A. and Barclays Bank PLC
  - Value: $150,000,000
  - Effective: 2023-08-10
  source text: On August 10, 2023, PennyMac Mortgage Investment Trust (the “Company”), through three of its indirect, wholly owned subsidiaries, PMT ISSUER TRUST - FHLMC SAF (“Issuer Trust”), PMT SAF Funding, LLC (“Depositor”) and PennyMac Corp. (“PMC”), entered into a structured finance transaction that PMC will use to finance Freddie Mac servicing advance receivables. The Company entered into (i) an Indenture by and among Issuer Trust, as issuer, PMC, as administrator and servicer, Citibank, N.A., as indenture trustee (“Citibank”), calculation agent, paying agent, custodian and securities intermediary, and Barclays Bank PLC, as administrative agent (“Barclays”), dated August 10, 2023 (“Indenture”),
  evidence_url: https://www.sec.gov/Archives/edgar/data/1464423/000119312523214325/0001193125-23-214325-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.